Wm Morrison needs a good Christmas to prove strategy, says Shore Capital
6th Nov 2014 10:28
Shore Capital has retained a 'hold' rating for supermarket group Wm Morrison after a mixed set of third-quarter results, saying that it is "critical" that trading improves over the pivotal Christmas period. Morrison said on Thursday that like-for-like (LFL) sales in the 13 weeks to 2 November were d
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreLondon open: UK stocks fall ahead of policy decisions from BoE and ECB
6th Nov 2014 08:28
A flurry of blue-chip company announcements and upcoming policy decisions by the Bank of England (BoE) and European Central Bank (ECB) kept investors cautious on Thursday morning, with UK stocks trading in the red early on. The FTSE 100 was down 0.3% at 6,517, having jumped 1.3% to the previous sess
Read moreLondon close: Shares tread water after central banks sit tight
6th Nov 2014 08:25
A lack of action by Europe's central banks left London shares treading water on Thursday, although supermarkets provided a boost. The European Central Bank left its base rate unchanged at 0.05% but addressed fears about the lacklustre Eurozone economy by saying policymakers would take more action on
Read moreLondon pre-open: UK stocks expected to slip ahead of central-bank meetings
6th Nov 2014 07:54
The UK stock market was expected to open in the red on Thursday morning as investors tread cautiously ahead of policy decisions by the Bank of England (BoE) and European Central Bank (ECB). City sources predict the FTSE 100 will open around 17 points lower after rising 1.3% to 6,539.14 on Wednesday.
Read moreMorrison's sales decline eases in third quarter - UPDATE
6th Nov 2014 07:08
Supermarket chain Wm Morrison saw like-for-like (LFL) sales slip 6.3% in the third quarter but was optimistic about the Christmas trading period after price cuts and a new Match & More loyalty card that was proving "extremely popular" with customers. The grocer, which has slashed prices in a bid to
Read moreLondon close: Weak Eurozone manufacturing data drag shares lower
3rd Nov 2014 15:24
Weak European manufacturing data dragged London shares lower on Monday despite a rise in the sector's fortunes in the UK. The Eurozone Markit manufacturing purchasing managers' index (PMI) for October fell to 50.6 from 50.7 previously with both Germany and Italy declining while France improved sligh
Read moreBroker tips: HSBC, RBS, Wm Morrison, Rolls-Royce, Just Eat
3rd Nov 2014 12:22
Hargreaves Lansdown Stockbrokers has hailed a "strong operating quarter" for HSBC, but has said that analysts covering the stock remain on the fence due to regulatory issues. "Unfortunately, the provisions cannot be ignored and the ongoing costs of PPI and the forex investigations are also joined by
Read moreShoreCap cautious ahead of Morrison's Q3 update
3rd Nov 2014 09:46
Current trading conditions at Wm Morrison are a "worry to our minds", according to analysts at Shore Capital who repeated their 'hold' rating on the stock ahead of the supermarket chain's third-quarter update this week. Shore Capital said it expects a further "material" contraction in like-for-like
Read moreSectors: Tech sentiment improves
29th Oct 2014 14:23
Improving sentiment towards technology companies saw the electronic and electrical equipment sector top the leaderboards in London on Wednesday. Although earnings reports from tech giants stateside have been mixed, with Apple and Facebook pleasing but Amazon and Twitter disappointing, interest in sm
Read moreSunday newspaper round-up: Tesco, RBS, Morrisons
26th Oct 2014 16:31
Tesco's new Chief Executive Dave Lewis is in talks with the group's board over a new bonus deal because its problems have undermined his original package, the Mail on Sunday reported. "If you are doing a turnaround, then maybe you'd want some shorter-term targets for the leadership team," he said. S
Read moreTesco biggest sales loser in last three months, says Nielsen
24th Oct 2014 12:23
There was more bad news for Tesco on Friday after new figures showed it was the industry's biggest sales loser in the last three months. Tesco's sales in the 12 weeks to 11 October dropped 5.2% against the same period a year ago, while Morrisons dipped 2.1% and Sainsbury was off 2%, according to
Read moreLondon close: Supermarket share slump limits market gains
23rd Oct 2014 16:15
UK supermarkets held back London shares on Thursday after beleaguered Tesco reported lower first half profits and said the hole in its accounts was bigger than thought. Shares in Tesco led the FTSE 100 Index fallers with a 12p slump to 171p as the group said trading profits dropped 39.4% at constant
Read moreSector movers: Tesco's woes hit supermarket sector as shares tank
23rd Oct 2014 11:59
Tesco's highly-anticipated first-half results delivered a blow to the UK supermarket sector on Thursday despite profits coming in ahead of expectations, as analysts raised concerns about the struggles facing its new boss as he attempts to turn the business around. Tesco's shares were 7.3% lower at 1
Read moreLondon close: Markets up on positive company news
22nd Oct 2014 17:04
The London market closed in positive territory for the second time this week as traders weary of negative economic news took heart from upbeat corporate results. The FTSE 100 Index ended the session 27.4 points ahead at 6399.73 as drug group GlaxoSmithKline pleased investors with news of higher earn
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